The fermentation conditions of set soybean yogurt using soy protein and soybean oil as raw material were studied in this paper. Sensory evaluation, pH value and water-holding capacity were investigated. The optimal fermentation conditions were as followed: the ratio of Lactococcus lactis strain 1# ∶ 2# ∶ 3# = 5 ∶ 3 ∶ 2, sucrose 5%, glucose 2%, fructose 3%, inoculum 2.5% and fermentation temperature 30℃. Under these conditions, the soybean yogurt had very good taste and sensory evaluation was high.